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Updates & Errata

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2022 Changes in Federal Exemption Amounts and Debt Limits

Source: Adjustment of Certain Dollar Amounts in the Bankruptcy Code A Notice by the Judicial Conference of the United States on 02/04/2022

Affected sections of Title 28 U.S.C. and the bankruptcy code Dollar amount to be adjusted New (adjusted) dollar amount 1
28 U.S.C.
Section 1409(b)—a trustee may commence a proceeding arising in or related to a case to recover:    
(1)—money judgment of or property worth less than $1,375 $1,525.
(2)—a consumer debt less than $20,450 $22,700.
(3)—a non-consumer debt against a non-insider less than $25,000 $27,750.
11 U.S.C.
Section 101(3)—definition of assisted person $204,425 $226,850.
Section 101(18)—definition of family farmer $10,000,000 (each time it appears) $11,097,350 (each time it appears).
Section 101(19A)—definition of family fisherman $2,044,225 (each time it appears) $2,268,550 (each time it appears).
Section 101(51D)—definition of small business debtor $2,725,625 (each time it appears) $3,024,725 (each time it appears).
Section 109(e)—debt limits for individual filing bankruptcy under chapter 13 $419,275 (each time it appears) $1,257,850 (each time it appears) $465,275 (each time it appears). $1,395,875 (each time it appears).
Section 303(b)—minimum aggregate claims needed for the commencement of an involuntary chapter 7 or 11 petition $16,750 (each time it appears) $18,600 (each time it appears).
Section 507(a)—priority expenses and claims:    
(1)—in paragraph (4) $13,650 $15,150.
(2)—in paragraph (5)(B)(i) $13,650 $15,150.
(3)—in paragraph (6) $6,725 $7,475.
(4)—in paragraph (7) $3,025 $3,350.
Section 522(d)—value of property exemptions allowed to the debtor:    
(1)—in paragraph (1) $25,150 $27,900.
(2)—in paragraph (2) $4,000 $4,450.
(3)—in paragraph (3) $625 $13,400 $700. $14,875.
(4)—in paragraph (4) $1,700 $1,875.
(5)—in paragraph (5) $1,325 $12,575 $1,475. $13,950.
 
(6)—in paragraph (6) $2,525 $2,800.
(7)—in paragraph (8) $13,400 $14,875.
(8)—in paragraph (11)(D) $25,150 $27,900.
Section 522(f)(3)—exception to lien avoidance under certain state laws $6,825 $7,575.
Section 522(f)(4)—items excluded from definition of household goods for lien avoidance purposes $725 (each time it appears) $800 (each time it appears).
Section 522(n)—maximum aggregate value of assets in individual retirement accounts exempted $1,362,800 $1,512,350.
Section 522(p)—state homestead exemption, limit for interest acquired 1215 days before filing $170,350 $189,050.
Section 522(q)—state homestead exemption, limit under particular circumstances $170,350 $189,050.
Section 523(a)(2)(C)—exceptions to discharge—presumption of nondischargeability:    
(1)—in paragraph (i)(I)—consumer debts for luxury goods or services incurred ≤90 days before filing owed to a single creditor in the aggregate $725 $800.
(2)—in paragraph (i)(II)—certain cash advances obtained ≤70 days before filing, in the aggregate $1,000 $1,100.
Section 541(b)—certain property of the estate exclusion limits $6,825 (each time it appears) $7,575 (each time it appears).
Section 547(c)(9)—minimum preference avoidance value in cases with primarily non-consumer debts $6,825 $7,575.
Section 707(b)—dismissal of a chapter 7 case or conversion to chapter 11 or 13 (means test):    
(1)—in paragraph (2)(A)(i)(I) $8,175 $9,075.
(2)—in paragraph (2)(A)(i)(II) $13,650 $15,150.
(3)—in paragraph (2)(A)(ii)(IV) $2,050 $2,275.
(4)—in paragraph (2)(B)(iv)(I) $8,175 $9,075.
(5)—in paragraph (2)(B)(iv)(II) $13,650 $15,150.
(6)—in paragraph (5)(B) $1,375 $1,525.
(7)—in paragraph (6)(C) $750 $825.
(8)—in paragraph (7)(A)(iii) $750 $825.
Section 1322(d)—length of chapter 13 plan, current monthly income, 4+ household $750 (each time it appears) $825 (each time it appears).
Section 1325(b)—confirmation of chapter 13 plan, current monthly income, 4+ household $750 (each time it appears) $825 (each time it appears).
Section 1326(b)(3)—payments to former chapter 7 trustee $25 $25.
1 The New (Adjusted) Dollar Amounts reflect a 10.97347880254584 percent increase, rounded to the nearest $25.

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Jurisdictional relevance: ST

There are versions of this article for each State.